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$1,249,000
Est. payment /mo
8,498 Sqft Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID SB25072920
HOA Y/N No
Year Built 1924
Lot Size 8,498 Sqft
Property Sub-Type Apartment
Property Description
8804-8806 Beach St presents a rare opportunity to acquire two adjacent parcels in a high-demand rental market in Los Angeles. Each parcel consists of three charming bungalow-style units, totaling six units, all featuring 1-bedroom, 1-bath layouts with private patios. Additionally, there is significant upside potential through the development of up to 3 detached ADUs on each parcel, using SB 1211. Separate parcels provides an opportunity for either residential or commercial financing.
Recent capital improvements include fresh exterior paint, new roofs, and upgraded electrical panels, ensuring a well-maintained asset with reduced maintenance costs. Each unit is separately metered for gas and electricity and has an individual water heater, minimizing landlord expenses and enhancing operational efficiency. Additionally, each parcel provides six uncovered parking spaces, further increasing its appeal and potential for future value creation.
Located in a strong rental corridor with high occupancy rates, this asset benefits from the continued demand for affordable housing in Los Angeles. The opportunity to add ADUs aligns with California's ongoing push for housing expansion, allowing an investor to significantly increase rental income while maximizing the full potential of the site.
Recent capital improvements include fresh exterior paint, new roofs, and upgraded electrical panels, ensuring a well-maintained asset with reduced maintenance costs. Each unit is separately metered for gas and electricity and has an individual water heater, minimizing landlord expenses and enhancing operational efficiency. Additionally, each parcel provides six uncovered parking spaces, further increasing its appeal and potential for future value creation.
Located in a strong rental corridor with high occupancy rates, this asset benefits from the continued demand for affordable housing in Los Angeles. The opportunity to add ADUs aligns with California's ongoing push for housing expansion, allowing an investor to significantly increase rental income while maximizing the full potential of the site.
Location
State CA
County Los Angeles
Area C37 - Metropolitan South
Interior
Fireplace No
Laundry None
Exterior
Pool None
Community Features Sidewalks
Total Parking Spaces 12
Private Pool No
Building
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 6044014002
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
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Listed by Christopher Van Vuuren • Lyon Stahl Investment Real Estate, Inc. • 714-655-0098
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